7 Tips For More Website Income - 6. New Income Streams
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| Image by Gerd Altmann from Pixabay |
7 Tips For More Website Income - 6. New Income Streams - The article series is nearing its end and today we are talking about new sources of income.
Anyone who does not get any further with their previously used sources of income despite optimization should look for new earning opportunities.
In this article, you will learn that there is a lot now and what you should pay attention to.
Parts of the article series:
Why New Sources Of Income?
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| 7 Tips For More Website Income - 6. New Income Streams |
In the previous articles, the main focus was on analyzing and optimizing the existing content, rankings, and sources of income.
In my opinion, this is also very important, because as a rule, you have never really exhausted the earning potential of your website to 100%.
But in practice, it doesn't make any sense to aim for 100% (wherever it may be). The reason for this lies in the cost/benefit principle.
Depending on the degree of optimization, there is a certain relationship between costs and benefits.
As the picture shows, these diverge further and further with the degree of optimization.
This means that at the beginning you still get a lot of benefits for a unit of costs/effort (for example one hour of work).
The closer you get to 100%, the lower the additional benefit gained per unit of costs.
An example would be cleaning a car. As a first step, washing the car and cleaning the interior is very useful. The car looks much higher quality and thus its value increases.
Other measures such as waxing or cleaning the engine are also beneficial, even if they do not increase the value of the car as much.
Further measures are taken afterward to clean the car then bring less and less additional benefit. At a certain point, it simply becomes no longer profitable to “invest” additional costs, as the benefits gained no longer justify this.
This is also reflected in the Pareto principle, or better known as the 80/20 rule. Accordingly, 80% of the result is achieved with 20% of the effort.
In short, at some point, you should just let go of the optimization, because the effort no longer brings enough benefit.
Tips For New Sources Of Income
At this point, it is time for new sources of income.
There are of course some well-known sources of income that one should consider.
Unfortunately, I keep seeing blogs and websites that are content with one source of income and don't even test other options.
You should consider these well-known and common sources of income:
- Cost Per Click
If you haven't been using a CPC provider so far, you should at least test this out. Google AdSense is best known here, of course, but there are many interesting AdSense alternatives out there. - Affiliate Marketing
With affiliate marketing, I earn around 1,500 - 2,000 euros per month here on the blog. Of course, this is not a sure-fire success and you have to put a lot of work and time into optimization, but this source of income offers great potential. Especially since you also have a lot of alternative options within affiliate marketing through various networks and different partner programs on a topic. - Paid Items
Paid articles are a great way for bloggers to tap an additional source of income. Some blogs make really good money with it. - Direct Marketing
Selling banner spaces is a little old-fashioned, but the advertising market on the Internet is growing steadily. Direct marketing bypasses a middleman and so you can get a very good income with it. - Banner Networks
If you cannot establish direct contact with advertisers, then banner networks offer a possible alternative. This is where advertisers and website operators “meet” and one can earn good money with it. Not always optimal occupancy and low CPM prices make at least the leftover space marketers only interesting for high-traffic sites. Those who can show not only a lot of traffic but also high quality will do better with premium marketers. - Link Sales
Selling links is not uninteresting. Since Google attaches great importance to backlinks when calculating the ranking, there is always a need for good backlinks. And you can get this paid for well. However, Google understandably does not like it and ignores it in the best case. But there have also been ranking penalties for link sellers.
In addition to these well-known and widely used sources of income, there are also less well-known or used. Here some examples:
- Sponsorship
Getting a sponsor onboard is a rather unusual source of income. This differs from a normal advertiser in two main things. On the one hand, a sponsor is closer to the blog, is mentioned more often, and is otherwise directly connected to the blog/website. In addition, the sponsor uses the sponsorship in their marketing and PR work, e.g. to gain an image. - Donate
Donations are one of those things. In my opinion, this is not a real business model, but rather suitable for hobby bloggers/website operators who are happy about some pocket money. I take a critical view of modern donation services like Flattr, at least from a business perspective. - Sell Products
Selling one or more of your products is worth considering. Of course, you have to hit the nerve of the target group with this, and ideally, this target group is already busy on your site. However, creating your eBook, for example, also means work. Not to mention physical products. - Paid Content
There are a few examples in Germany of the successful implementation of paid content. However, premium content is nowhere near as well accepted. The vast majority still see the web as a free paradise and only certain target groups are willing to spend money on certain content month after month. But if you hit the nerve of the target group, you can earn a lot of money with it. It just has to be worth the money to the target group. - Coaching
This is an indirect source of income, but a website or blog is a great way to attract customers. However, you have to develop the necessary image beforehand. - Job Blogging
If you write for your projects every day, you can of course also write content for other websites. Many blogs and websites are interested in quality content.
Of course, there are many other sources of income that are available online, and more will certainly be added in the future.
The important thing is to be aware that there are many options.
Beware Of New Sources Of Income
However, caution is required when installing new sources of income.
There are some sources of income that cannot be combined with others. For example, Google requires that no other CPC service may be used if the ads can be confused with Google's. And Trigami forbids its bloggers from additionally showing advertising in paid articles.
One should also pay attention to whether there are any interactions between the various sources of income. At first glance, it may seem great that a new source of income brings in good money. But if another existing source of income collapses at the same time, the bottom line is that it does not bring anything.
It is also not unproblematic if, you want to install more banners or, for example, move existing banners further down to make room for a new source of income. This can certainly annoy previous advertisers.
And of course, you should put yourself in the shoes of your readers. Reader reactions to the new built-in layer advertising could definitely (and very likely) be quite negative.
So please don't just blindly build in new sources of income, but first, test them on a small scale and think carefully about the possible consequences beforehand.
Back To The Beginning
If you have built-in new sources of income, then it starts all over again.
The optimization tips described so far then of course also apply to the new sources of income. Optimizing the conversion rate (or the click rate) and the other optimization tips, of course, also apply to new sources of income.
And so it is clear again at this point that optimizing and increasing your website income is a continuous process.
And that is especially true for the topic of the 7th and last part of this article series.
Part 7 "Testing"
The 7th part of the article series is about testing and the possible optimization of your website income.
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